REG - Agronomics Limited - Directors’ interests in shares

AgronomicsAnnouncement

15/03/2023 07:00

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RNS Number : 9787S  Agronomics Limited  15 March 2023

15 March 2023

Agronomics Limited

("Agronomics" or the "Company")

Directors' interests in shares

On 20 December 2022, the board of Agronomics resolved to issue 14,257,963 new
ordinary shares in the capital of the Company (the "Fee Shares") to Shellbay
Investments Limited ("Shellbay"), in settlement of 50% of the fees due to them
under the consultancy agreement for the year to 30 June 2022.

Further to the announcement of 4 January 2023, awards by Shellbay to its
management and consultants in relation to 6,489,722 shares (the "Award
Shares") have vested and relevant shares have been transferred to Shellbay
management, including 312,500 Award Shares to Mr Denham Eke, a director of the
Company.

Shellbay is a company indirectly wholly owned by Mr James Mellon, a Director
of the Company.

Following the transfer of the Award Shares, Shellbay holds, in aggregate,
12,722,782 Ordinary Shares of the Company, of which    8,903,633 remain
subject to options in favour of its management and advisory consultants.

Following the transfer of the Award Shares, the interest of the directors in
the ordinary shares of the Company (the "Ordinary Shares") is as set out
below:

 Director         No. of Ordinary Shares  % of entire issued share capital of the Company
 James Mellon*    153,445,363             15.46%
 Richard Reed**   6,354,412               0.64%
 David Giampaolo  2,434,783                   0.25%
 Denham Eke       739,390                 0.07%

 

*     Following the transfer of the Award Shares, James Mellon will be
interested in a total of 153,445,363 Ordinary Shares. 1,273,960 are held
directly by James Mellon, 139,448,621 will be held by Galloway Limited and
12,722,782 will be held by Shellbay. Galloway Limited and Shellbay are
companies which are both indirectly wholly owned by James Mellon. Denham Eke
is a director of Galloway and Shellbay.

**    Richard Reed is currently interested in 6,354,412 Ordinary Shares
held by Reepa Limited. Reepa Limited is wholly owned by Richard Reed.

About Agronomics

Agronomics is a leading listed alternative proteins company with a focus on
cellular agriculture and cultivated meat. The Company has established a
portfolio of over 20 companies at the Pre-Seed to Series C stage in this
rapidly advancing sector. It seeks to secure minority stakes in companies
owning technologies with defensible intellectual property that offer new ways
of producing food and materials with a focus on products historically derived
from animals. These technologies are driving a major disruption in
agriculture, offering solutions to improve sustainability, as well as
addressing human health, animal welfare and environmental damage. This
disruption will decouple supply chains from the environment and animals, as
well as being fundamental to feeding the world's expanding population. A full
list of Agronomics' portfolio companies is available at https://agronomics.im/
(https://agronomics.im/) .

About Cellular Agriculture

Cellular Agriculture is the production of agriculture products directly from
cells, as opposed to raising an animal for slaughter, or growing crops. This
encompasses cell culture to produce cultivated meat and materials, and
fermentation processes that harness a combination of molecular biology,
synthetic biology, tissue engineering and biotechnology to massively simplify
production methods in a sustainable manner.

Over the coming decades, the source of the world's food supply traditionally
derived from conventional agriculture is going to change dramatically. We have
already witnessed the first wave of this shift with the consumer adoption of
plant-based alternative proteins but today, we are on the cusp of an even
bigger wave of change. This is being facilitated by advances in cellular
agriculture. This change is necessary, given scientists claims that if we
maintain existing animal protein consumption patterns, then we will not meet
the Paris Agreement's goal of limiting warming to 1.5℃.

AT Kearney, a global consultancy firm, projects that cultivated meat's market
share will reach 35% by 2040. This combined with the Good Food Institute's
estimate that a US $1.8 trillion investment will be required in order to
produce just 10% of the world's protein using this technology, means that we
are on the cusp of a multi-decade flow of capital to build out manufacturing
facilities. Funding in the field of cellular agriculture is accelerating,
however still less than US$ 4 billion has been invested worldwide since the
industry's inception in 2016.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS
SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

For further information please contact:

 Agronomics                                       Beaumont              Canaccord              Cenkos                Peterhouse Capital

 Limited                                          Cornish Limited       Genuity Limited        Securities Plc        Limited               TB Cardew
 The Company                                      Nomad                 Joint Broker           Joint Broker          Joint Broker          Public Relations
 Richard Reed                                     Roland Cornish        Andrew Potts           Giles Balleny         Lucy Williams          Ed Orlebar

 Denham Eke                                       James Biddle          Harry Rees             Max Gould             Charles Goodfellow    Alistair Walker

                                                                        Alex Aylen             Michael Johnson

                                                                        (Head of Equities)
 +44 (0) 1624 639396                              +44 (0) 207 628 3396                         +44 (0) 207 397 8900  +44 (0) 207 469 0936  +44 (0) 20 7930 0777

 info@agronomics.im (mailto:info@agronomics.im)                         +44 (0) 207 523 8000                                               +44 (0) 7738 724 630

                                                                                                                                           agronomics@tbcardew.com (mailto:agronomics@tbcardew.com)

 

 

 

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